The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that Broker Edward Hill (Hill), currently employed by LPL Financial LLC has been subject to at least one disclosable event. These events include one customer complaint. According to records kept by The Financial Industry Regulatory Authority (FINRA), Hill’s most recent customer complaint alleges that Hill recommended unsuitable investments in structured products and makes allegations concerning misconduct relating to the handling of the customer’s accounts.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $300,000.00 on July 01, 2025.
Claimant alleges his financial professional recommended an unsuitable investment in structured notes from April 2021 – July 2025.
Structured products belong to a category of derivative products, which obtain their performance from data linked to the market. Market risk in a structured product is generally taken based on a referenced source. It can originate from a single security, a group of securities such as a market index, commodities, interest rates, or a portfolio of real estate loans. The variety of products that can be structured demonstrates the difficulty in formulating a single unified definition of a structured product.
Structured products typically offer less attractive risk/return profiles than conventional debt or equity investments, as issuing firms—mainly large banks—capitalize on the difference between investor returns and the earnings from issuing structured notes, after subtracting commissions and fees paid to brokers. Because these products are complex, the majority of investors will find it challenging to evaluate their value or determine the probability of profit versus loss. Many brokers misrepresent these investments to clients as fixed income or bond like investments with return of capital. The risk of loss in structured products is significantly higher than in corporate debt and other fixed-income options, making them an unsuitable fixed-income alternative.
Recently, firms have begun selling redeemable structured notes often linked to a single investment or a basket of investments. The extreme risk of structured products associated with single securities is evident in multiple examples, showing little to no real benefit. We analyzed a structured note associated with Peloton’s stock that guaranteed investors 1.0625% monthly interest (12.75% annually) and a similar note tied to Zillow’s stock, offering 12% annual interest paid monthly, contingent on the stock prices staying above a specified level. The interest payment would be fully canceled only if both stocks suffered a roughly 40% decline in value. In addition, if the stocks lost more than approximately 40% of their value then the investor would also lose their corresponding principal based upon the performance of the stocks and could lose their entire investment. Further, the notes were callable and could be cancelled by the sponsor.
These products are very high risk and low reward propositions because the investor can only profit at most by 12-12.75% over the course of one year. Even if Peloton or Zillow doubled in value all the investor could achieve would be the interest payment as their profit and none of the price appreciation. Meanwhile the maximum loss is 100% of the investment if the stocks fell severely. Accordingly, the investor takes dramatic downside risks associated with the volatile stocks while having no chance to participate in the success of the stock.
According to newsources, a study revealed that 7.3% of financial advisors had a customer complaint on their record when records from 2005 to 2015 were examined. Brokers must publicly disclose reportable events on their BrokerCheck reports that include customer complaints, IRS tax liens, judgments, investigations, terminations, and criminal cases.
Hill entered the securities industry in 2012. Hill has been registered as a Broker with LPL Financial LLC since 2018.
Investors who have suffered losses are encouraged to contact us at (800) 810-4262 for consultation. At Gana Weinstein LLP, our attorneys are experienced representing investors who have suffered securities losses due to the mishandling of their accounts. Claims may be brought in securities arbitration before FINRA. Our consultations are free of charge and the firm is only compensated if you recover.